WHICH OF FOLLOWING IS TRUE ABOUT QUALIFYING BUSINESS INCOME (QBI) DEDUCTION FOR TAXPAYERS WITH TAXABLE INCOME...

WHICH OF FOLLOWING IS TRUE ABOUT QUALIFYING BUSINESS INCOME (QBI) DEDUCTION FOR TAXPAYERS WITH TAXABLE INCOME ABOVE THE TAXABLE INCOME LIMITATIONS?

A. IF THE TAXPAYER IS A SPECIFIED SERVICE TRADE OR BUSINESS (SSTB), NO DEDUCTION IS ALLOWED.

B. IF THE TAXPAYER IS A QUALIFIED TRADE OR BUSINESS (QTB), W-2 WAGE AND PROPERTY LIMITATIONS DO NOT APPLY.

C. IF THE TAXPAYER IS A QUALIFIED TRADE OR BUSINESS (QTB), W-2 WAGE AND PROPERTY LIMITATIONS ARE PHASED IN.

D. IF THE TAXPAYER IS A SPECIFIED SERVICE TRADE OR BUSINESS (SSTB), W-2 WAGE AND PROPERTY LIMITATIONS APPLY.

Expert Solution

ekkarill92 answered 2 years ago

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